Drugstore chain CVS has agreed to a $110 million settlement of a shareholders' lawsuit that accused the company of making misleading statements and violating accounting practices. The proposed settlement, filed Monday in U.S. District Court, would be the third-largest payout of a securities action in federal court in Boston, according to the agreement. CVS denied liability and said Monday that it entered into the agreement "solely to avoid the risk and diversion of resources associated with trial."
June 08, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Drugstore chain CVS Corp. has agreed to a $110 million settlement of a shareholders’ lawsuit that accused the company of making misleading statements and violating accounting practices.
CVS filed the proposed settlement Monday in U.S. District Court in Boston, The Boston Globe reported in today’s editions.
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